Private sector confidence drops amid a tough environment

A sales representative helps a parent fit her child with a shoe ahead of school reopening. [George Njunge, Standard]

Many Kenyan firms are less optimistic about growth prospects this year, weighed down by the high cost of doing business as well as weak demand from consumers who are grappling with reduced earnings and the high cost of living.

A new survey shows that just 11 out of every 100 companies polled predicted growth in 2024, an indication that the difficulties experienced last year might persist throughout this year.